Stocks to watch: Paytm, Star Health, Rel Cap, Ujjivan SFB, BPCL, telcos


Further market consolidation seems likely due to the absence of any major triggers. The main benchmarks have gained in the last three consecutive trading days. In the meantime, here are the top stocks to focus on in Friday trading.

Star Health and Allied Insurance Company: After a lukewarm response to its IPO, the stock will debut today.

Payment : Paytm Payments Bank, an associated entity of Paytm, has received approval from the RBI to operate as a scheduled payments bank, helping it expand its financial services operations. He now becomes eligible for the RBI bank rate refinancing facility, becomes a member of the clearing house and has access to the currency storage facility. READ MORE

Bajaj electricity: The company has decided to review its existing business structure due to the nature and potential opportunities of each of its business segments. The review will include an assessment of the full range of options and alternatives, including spin-off, spin-off and strategic partnerships among various possibilities.

BPCL: After Bharat Petroleum Corporation (BPCL), a divestment company, acquired the entire stake of Oman oil investment company OQ in the Bina refinery project in June of this year, the company has now secured authorization from the Department of Investment and Public Asset Management (DIPAM) for the merger of the refinery with the company.

BPCL had also acquired the Government of Madhya Pradesh’s stake in Bharat Oman Refineries (BORL) or Bina Refinery in the form of convertible stock warrants for Rs 72.63 crore two months ago. READ MORE

Ujjivan SFB: Ujjivan Small Finance Bank has raised interest rates on its term deposits up to Rs 2 crore from 50 to 75 basis points (bps) for certain maturities. For depositors under the age of 60, the bank offers an interest rate of 6.5% for a period of 12 months and 6.6% for a period of 19 months and from one day to 24 months. Seniors will receive an additional 75 basis points for all mandates.

Trust capital: Bondholders approve the recovery plan for Reliance Commercial, a subsidiary of Reliance Capital. Authum Investment and Infrastructure’s resolution plan for Reliance Commercial Finance was voted overwhelmingly over 99% by its debentureholders. READ MORE

Telecom actions: The Ministry of Telecommunications (DoT) issued an order to recheck the SIM card of subscribers with more than nine connections across India and six connections in the case of Jammu and Kashmir, North East and Assam and log out in case of non-verification. Subscribers will be able to choose which connection they want to keep and deactivate the rest of the connections. READ MORE

Infosys: The Computer Science major worked with Packable, a leading e-commerce company with an exclusive technology-based offering located at the intersection of brands, markets and customers. Packable recently announced its merger with Highland Transcend Partners, setting it on the path to becoming a public company.

Dr Reddy: The pharmaceutical company announced the launch of Venlafaxine ER tablets which are therapeutically equivalent to Venlafaxine extended-release tablets, 150 mg and 225 mg, from Osmotica Pharmaceutical US LLC, approved by the United States Food and Drug Administration (USFDA). The brand and generic had US sales of approximately $ 51 million MAT over the past twelve months ending October 2021 according to IQVIA Health *.

Vedanta: The company’s board of directors is due to meet on December 11 to consider its second interim dividend. The payment registration date is December 18.

Karur Vysya Bank: The private sector lender plans to reduce its base rate and benchmark prime rate to 7.75% and 12.75%, respectively, effective December 15, 2021.

Deepak fertilizer: Smartchem Technologies, a wholly-owned subsidiary of the company, will invest Rs 2,200 crore in its worldwide technical ammonium nitrate plant in Gopalpur, Odisha.

Weizmann: The board of directors of the company has approved a repurchase proposal for 14 12,515 shares at Rs 60 each on a basis proportional to the public tender offer process.

Bhagiradha chemicals and industries: The company’s board of directors is due to meet on December 14 to consider a proposal to issue stock rights to existing shareholders.

Adroit Infotech: The board of directors of the company approved the capital reduction in accordance with the plan and the comments / observation letters received from BSE and NSE.

Stocks under F&O ban: Escorts and Indiabulls Housing Finance are the only two stocks in the F&O blackout period today.

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